Senin, 30 November 2015

On November 30, 2015 | By

Ebook Download Introduction to Broadband Communication SystemsBy Cajetan M. Akujuobi, Matthew N.O. Sadiku

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Introduction to Broadband Communication SystemsBy Cajetan M. Akujuobi, Matthew N.O. Sadiku

Introduction to Broadband Communication SystemsBy Cajetan M. Akujuobi, Matthew N.O. Sadiku


Introduction to Broadband Communication SystemsBy Cajetan M. Akujuobi, Matthew N.O. Sadiku


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Introduction to Broadband Communication SystemsBy Cajetan M. Akujuobi, Matthew N.O. Sadiku

Broadband networks, such as asynchronous transfer mode (ATM), frame relay, and leased lines, allow us to easily access multimedia services (data, voice, and video) in one package. Exploring why broadband networks are important in modern-day telecommunications, Introduction to Broadband Communication Systems covers the concepts and components of both standard and emerging broadband communication network systems.

After introducing the fundamental concepts of broadband communication systems, the book discusses Internet-based networks, such as intranets and extranets. It then addresses the networking technologies of X.25 and frame relay, fiber channels, a synchronous optical network (SONET), a virtual private network (VPN), an integrated service digital network (ISDN), broadband ISDN (B-ISDN), and ATM. The authors also cover access networks, including digital subscriber lines (DSL), cable modems, and passive optical networks, as well as explore wireless networks, such as wireless data services, personal communications services (PCS), and satellite communications. The book concludes with chapters on network management, network security, and network testing, fault tolerance, and analysis.

With up-to-date, detailed information on the state-of-the-art technology in broadband communication systems, this resource illustrates how some networks have the potential of eventually replacing traditional dial-up Internet. Requiring only a general knowledge of communication systems theory, the text is suitable for a one- or two-semester course for advanced undergraduate and beginning graduate students in engineering as well as for short seminars on broadband communication systems.

  • Sales Rank: #2308117 in Books
  • Brand: Brand: Chapman and Hall/CRC
  • Published on: 2007-11-28
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.25" h x 6.50" w x 1.00" l, .0 pounds
  • Binding: Hardcover
  • 456 pages
Features
  • Used Book in Good Condition

About the Author
Prairie View A&M University, Texas, USA Prairie View A&M University, Texas, USA

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Rabu, 11 November 2015

On November 11, 2015 | By

Ebook Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment SituationsBy Mary Buffett, D

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Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment SituationsBy Mary Buffett, D

Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment SituationsBy Mary Buffett, D


Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment SituationsBy Mary Buffett, D


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Warren Buffett and the Art of Stock Arbitrage: Proven Strategies for Arbitrage and Other Special Investment SituationsBy Mary Buffett, D

FOR THE FIRST TIME EVER, DISCOVER HOW WARREN BUFFETT HAS MADE UNHEARD-OF PROFITS IN THE WORLD OF ARBITRAGE AND SPECIAL INVESTMENTS, AND HOW TO BE A PLAYER IN THESE VENTURES.

Investors around the world recently learned that from 1980 through 2003 Warren Buffett’s arbitrage operations produced an astronomical average annualized rate of return of 81.28%. Even more amazing, this incredible rate of return was produced with very low rates of risk.

Long considered one of the most powerful and profitable of Buffett’s investment operations, but the least understood, these special types of investments have been the edge that made Warren Buffett so phenomenally successful. Warren Buffett and the Art of Stock Arbitrage is the first book to examine Buffett’s special brand of arbitrage investing.

Buffettologists Mary Buffett and David Clark explore the previously secret domain of Warren Buffett’s stock arbitrage investments. They explain how Buffett finds deals, evaluates them, picks the winners from the losers, and when he is willing to use leverage to help boost his performance in these investments to make amazing profits. Basic mathematical equations are included to help readers determine the projected rate of return, evaluate risk, and determine the probability of the deal being a success.

Buffett and Clark provide detailed explanations and examples of Warren Buffett’s methods for arbitrage, and for investing in tender offers, liquidations, spin-offs, and reorganizations. They take readers step by step from the initial public announcement to tendering shares, explaining how Buffett evaluates risk and maximizes his profit at every step.

 Warren Buffett and the Art of Stock Arbitrage is a valuable companion to the other books in Buffett and Clark’s successful series—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, and Warren Buffett’s Management Secrets.

  • Sales Rank: #193703 in Books
  • Published on: 2010-11-09
  • Released on: 2010-11-09
  • Format: Deckle Edge
  • Original language: English
  • Number of items: 1
  • Dimensions: 7.50" h x .70" w x 5.63" l, .63 pounds
  • Binding: Hardcover
  • 176 pages

Review
“International bestselling authors Mary Buffett and David Clark explain how arbitrage turned Warren Buffett from a great investor into a worldwide phenomenon. Arbitrage presents the average investor with the greatest opportunities they may ever have to generate high returns with low risk. Every year many arbitrage deals come along that are within every investor’s grasp . . . if you learn how. Warren Buffett and the Art of Stock Arbitrage takes you behind the scenes for a serious exploration of arbitrage techniques that work. I suggest you study and put into practice these simple concepts.”

—Gabriel Wisdom, author of Wisdom on Value Investing and syndicated radio host

"The use of arbitrage and special situation investing has always been Warren Buffett’s golden lever; yet few investors have realized its value in portfolios, until now. Kudos to David Clark and Mary Buffett for finally bringing these strategies to light and revealing the final puzzle pieces in Buffett’s great career."

-- Timothy P. Vick – Senior Portfolio Manager, The Sanibel Captiva Trust Co., author, How to Pick Stocks Like Warren Buffett

About the Author
For over twenty years, Mary Buffett has been considered a leading authority on the subject of Warren Buffett’s investment methods. Her international bestselling investment books, co-authored with David Clark—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, The Management Secrets of Warren Buffett, Warren Buffett and The Art of Stock Arbitrage, and The Warren Buffett Stock Portfolio—have been translated into twenty-four foreign languages and are considered “investment classics” the world over. Ms. Buffett is an international speaker, entrepreneur, political and environmental activist, and has appeared on television as one of the top finance experts worldwide. She has been the principal speaker for prestigious organizations around the world. Ms. Buffett has worked in a wide range of businesses including extensive work as a consultant to several Fortune 500 companies. She is an associate of the top ranked UK Buffettology Fund in the United Kingdom. In 2013 she became a contributing blogger to the Huffington Post. The blogs and information about the UK Buffettology Fund are on her website MaryBuffett.com.

For over twenty years, David Clark has been considered the world’s leading authority on the subject of Warren Buffett’s investment methods. His international bestselling investment books, co-authored with Mary Buffett—Buffettology, The Buffettology Workbook, The New Buffettology, The Tao of Warren Buffett, Warren Buffett and the Interpretation of Financial Statements, The Management Secrets of Warren Buffett, Warren Buffett and The Art of Stock Arbitrage, and The Warren Buffett Stock Portfolio—have been translated into more than twenty foreign languages and are considered “investment classics” the world over. He holds a B.S. degree in finance and a law degree from the University of California, Hastings College of the Law. He is presently writing Berkshire Hathaway: Fortress of Capital, a corporate biography. When not consumed with matters of finance, he is engaged in the second great passion of his life, which is trial law and maintains an active national practice.    

Excerpt. © Reprinted by permission. All rights reserved.
CHAPTER 1

Overview of Warren’s Very Profitable World of Stock Arbitrage and Special Investment Situations

The world of arbitrage and special situations is enormous. It can be found anywhere in the world where commodities, currencies, derivatives, stocks, and bonds are being bought and sold. It is the great equalizer of prices, the reason that gold trades at virtually the same price all over the world; and it is the reason that currency exchange rates stay uniform no matter where our plane lands. A class of investors called arbitrageurs, who make their living practicing the art of arbitrage, are responsible for this.

The classic explanation and example of arbitrage is the London and Paris gold markets, which are both open at the same time during the day. On any given day, if you check the price of gold, you will find that it trades virtually at the same price in both markets, and the reason for this is the arbitrageurs. If gold is trading at $1,200 an ounce on the London market and suddenly spikes up to $1,205 on the Paris market, arbitrageurs will step into the market and buy gold in London for $1,200 an ounce and at the same time sell it in Paris for $1,205 an ounce, locking in as profit the $5 price spread. And arbitrageurs will keep buying and selling until they have either driven the price of gold up in London, or the price down in Paris, to the point that the price spread is gone between the two markets and gold is once again trading at the same price on both the London and Paris exchanges. The arbitrageurs will be pocketing the profits on the price spread between the two markets until the price spread finally disappears. This goes on all day long, every day that the markets are open, year after year, decade after decade, and probably will until the end of time.

Up until the late 1990s the exchange of price information and buying and selling in the different markets was done by telephone, with arbitrageurs screaming orders over the phones at traders on the floors of the different exchanges. Today it is done with high-speed computers and very sophisticated software programs, which are owned and operated by many of the giant financial institutions of the world.

STOCK ARBITRAGE

A very similar phenomenon occurs in the world of stock arbitrage, only instead of arbitraging a price difference between two different markets, we are arbitraging the price difference between what a stock is trading at today versus what someone has offered to buy it from us for on a certain date in the future—usually anywhere from three months to a year out, but the time frame can be longer. The arbitrage opportunity arises when today’s market price is lower than the price at which someone’s offered to buy it, which lets us make a profit by buying at today’s market price and selling in the future at a higher price.

As an example: Company A’s stock is trading at $8 a share; Company B comes along and offers to buy Company A for $14 a share in four months. In response to Company B’s offer, Company A’s stock goes to $12 a share. The simple arbitrage play here would be to buy Company A’s stock today at $12 a share and then sell it to Company B in four months for $14 a share, which would give us a $2-a-share profit.

The difference between this and your normal everyday stock investment is that the $14 a share in four months is a solid offer, meaning unless something screws it up, you will be able to sell the stock you paid $12 a share for today for $14 a share in four months. It is this “certainty” of its going up $2 a share in four months that separates it from other investments.

The offer to buy the stock at $14 a share is “certain” because it comes as a legal offer from another business seeking to buy the company. Once the offer is accepted by Company A, it becomes a binding contract between A and B with certain contingencies. The reason that the stock doesn’t immediately jump from $8 a share to $14 a share is that there is a risk that the deal might fall apart. In which case we won’t be able to sell our stock for $14 a share and A’s share price will probably drop back into the neighborhood of $8 a share.

This kind of arbitrage might be thought of as “time arbitrage” in that we are arbitraging two different prices for the company’s shares that occur between two points in time, on two very specific dates. This is different from “market” arbitrage where we are arbitraging a price difference between two different markets, usually within minutes of the price discrepancy showing up.

It is this “time” element and the great many variables that come with it that make this kind of arbitrage very difficult to model for computer trading. Instead, it favors hedge fund managers and individual investors like Warren, who are capable of weighing and processing a dozen or more variables, some repetitive, some unique, that can pop up over the period of time the position is held. It is this constant need to monitor the position and interpret the economic environment that brings this kind of arbitrage more within the realm of art than science.

© 2010 Mary Buffett

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Jumat, 06 November 2015

On November 06, 2015 | By

Download PDF Global Shift, Seventh Edition: Mapping the Changing Contours of the World EconomyBy Peter Dicken

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Global Shift, Seventh Edition: Mapping the Changing Contours of the World EconomyBy Peter Dicken

Global Shift, Seventh Edition: Mapping the Changing Contours of the World EconomyBy Peter Dicken


Global Shift, Seventh Edition: Mapping the Changing Contours of the World EconomyBy Peter Dicken


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Global Shift, Seventh Edition: Mapping the Changing Contours of the World EconomyBy Peter Dicken

The definitive text on globalization, this book provides an accessible, jargon-free analysis of how the world economy works and its effects on people and places. Peter Dicken synthesizes the latest ideas and empirical data to blaze a clear path through the thicket of globalization processes and debates. The book highlights the dynamic interactions among transnational corporations, nations, and other key players, and their role in shaping the uneven contours of development. Mapping the changing centers of gravity of the global economy, Dicken presents in-depth case studies of six major industries. Now in full color throughout, the text features 228 figures. Companion websites for students and instructors offer extensive supplemental resources, including author videos, applied case studies with questions, lecture notes with PowerPoint slides, discipline-specific suggested further reading for each chapter, and interactive flashcards.
 
 
New to This Edition:
*Every chapter thoroughly revised and updated.
*All 228 figures (now in color) are new or redesigned.
*Addresses the ongoing fallout from the recent global financial crisis.
*Discussions of timely topics: tax avoidance and corporate social responsibility; global problems of unemployment, poverty, and inequality; environmental degradation; the Eurozone crisis; and more.
*Enhanced online resources for instructors and students.

  • Sales Rank: #117670 in Books
  • Published on: 2015-02-10
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.53" h x 1.00" w x 6.69" l, .0 pounds
  • Binding: Paperback
  • 619 pages

Review
"Given the rapid changes in the configuration of the global economy, Global Shift, Seventh Edition, will be welcomed by academicians and assigned in graduate and undergraduate classes. While retaining the strengths that have made prior editions much adopted around the world, the seventh edition has been updated to weave in such important new topics as the impact of the recent global financial crisis, the global smartphone infrastructure, climate change, corporate social responsibility, and national and international inequality. Readable case studies and excellent figures and graphs provide students with the empirical illustrations they need to understand the larger theoretical concepts. A remarkable update by the foremost economic geographer of globalization that should be on everyone's reading list."--Martin Kenney, PhD, Department of Human Ecology, University of California, Davis; Senior Project Director, Berkeley Roundtable on the International Economy

"Global Shift, Seventh Edition, continues to be a key resource for understanding the complexity of the global economy and the ongoing, often contentious negotiations among nations, corporations, and locales. In addition to clearly outlining larger institutional and structural processes, Dicken provides a wealth of detailed new empirical material to explain how the outcomes of the global economy manifest in specific contexts. The book's diverse concrete examples--such as the global production network of iPhones or corporate strategies to shield profits from taxation--are drawn directly from the headlines. An extremely valuable text for all courses on economic geography, globalization, international business, and economics."--Matthew Zook, PhD, Department of Geography, University of Kentucky

"Given the dizzying pace of change in the global economy, it's more important than ever to have a comprehensive point of reference to allow us to understand and map the transformations around us. Global Shift, Seventh Edition, is that book. While continuing to add new material on countries, sectors, and the policies that shape global industries, Global Shift also provides a solid analytical framework that helps the reader navigate the new terrain. And its great graphs, diagrams, and charts are a visual delight. If you had to use just one book to convey globalization's promise and perils, this is the book I would recommend."--Gary Gereffi, PhD, Department of Sociology and Center on Globalization, Governance and Competitiveness, Duke University

"Not just an update, the seventh edition of Global Shift offers compelling theoretical and empirical insights as it takes on the critical global political-economic processes and debates of our time. Dicken provides a welcome synthesis and interrogation of prevailing theories of the global economy and addresses such fraught issues as the 2008 financial crisis and the intensification of inequality. An amazing resource."--Erica Schoenberger, PhD, Department of Geography and Environmental Engineering, The Johns Hopkins University

"Global Shift defines the gold standard in the field of globalization studies, which it has had a large hand in defining. The revised seventh edition continues to accomplish what no other book in the field does--it presents a grounded but broad view of globalization, judiciously assesses the key debates, and recognizes (but never drowns in) complexity. Global Shift combines an authoritative voice with meticulous documentation and outstanding illustrations; it’s the trusted source."--Jamie Peck, PhD, Canada Research Chair in Urban and Regional Political Economy, University of British Columbia, Canada

"I used this text in my undergraduate Global Apparel Industry Dynamics class. It is a valuable text that explains the critical components and dynamics of the global economy in a straightforward and engaging style that is accessible to undergraduates as well as graduates. Dicken provides important historical perspectives on the evolution of the global economy while keeping abreast of recent developments. Key industries are examined in a relevant manner, adding an extra dimension to the work. Global Shift will equip any young graduate/executive with important insights into the global characteristics of business environments."--Peter Kilduff, PhD, Professor and Chair, Department of Apparel Merchandising and Management, California State Polytechnic University, Pomona

"Global Shift has become the de facto textbook for middle- and upper-level courses in economic geography. Dicken synthesizes the economic, political, and social complexities of globalization in highly accessible prose. The case studies of various industries contribute to a better understanding of the processes of globalization."--Marc Vachon, PhD, Department of Geography, University of Winnipeg, Canada

 

“Peter Dicken…has been one of the major movers and shapers in debates in both and globalization....The great beauty of Global Shift is its clarity of argument and rigorous interrogation of rich, in-depth, up-to-the-minute empirical sources and examples.” (on the sixth edition) (Economic Geography 2012-07-01)

About the Author
Peter Dicken, PhD, is Emeritus Professor of Economic Geography in the School of Environment and Development at the University of Manchester, United Kingdom. He has held visiting academic appointments at universities and research institutes in Australia, Canada, China, Hong Kong, Mexico, Singapore, Sweden, and the United States, and lectured in many other countries throughout Europe and Asia. He is an Academician of the Social Sciences, is a recipient of the Victoria Medal of the Royal Geographical Society (with the Institute of British Geographers) and of the Centenary Medal of the Royal Scottish Geographical Society, and holds an Honorary Doctorate from the University of Uppsala, Sweden.

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